Annual student startup competition in Houston names teams for 2023

getting pitch perfect

Here's what student teams from around the world were invited to compete in the Rice Business Plan Competition. Photo via rice.edu

Rice Alliance for Technology and Entrepreneurship has named the 42 student startup teams that were extended invitations to compete in the 23rd annual Rice Business Plan Competition

The 2023 startup competition will take place on Rice University campus May 11 to 13, and the teams representing 37 universities from six countries will pitch to investors, mentors, and other industry leaders for the chance to win funding and prizes. Last year's RBPC doled out nearly $2 million in investment prizes.

This year, Rice saw its largest number of student startups applying for the RBPC internal qualifier from within campus. The university selected three to move on to compete at RBPC in May — Sygne Solutions, Neurnano Therapeutics, and Tierra Climate, which also received a total of $5,000 in cash prizes to these top three teams.

The 2023 RBPC will focus on five categories: energy, cleantech and sustainability; life science and health care solutions; consumer products and services; hard tech; and digital enterprise.

This invited companies, if they attend, will join the ranks of the 784 teams that previously competed in RBPC and have raised more than $4.6 billion in capital, as well as seen more than 50 successful exits including five IPOs.

The 2023 Rice Business Plan Competition invitees, according to Rice University's news release:

  • Active Surfaces, Massachusetts Institute of Technology
  • Adrigo Insights, Saint Mary’s University (Canada)
  • AirSeal, Washington University in St. Louis
  • Algbio, Yeditepe University (Turkey)
  • Arch Pet Food, University of Chicago
  • Astria Biosciences, University of Pittsburgh
  • Atma Leather, Yale University
  • Atop, UCLA
  • Biome Future, University of Florida
  • BioSens8, Boston University
  • BlueVerse, Texas Tech University
  • Boardible, Northwestern University
  • Boston Quantum, Massachusetts Institute of Technology
  • ceres plant protein cereal, Tulane University
  • Citrimer, University of Michigan
  • Dart Bioscience, University of Oxford (United Kingdom)
  • DetoXyFi, Harvard University
  • E-Sentience, Duke University
  • Edulis Therapeutics, Carnegie Mellon University
  • FluxWorks, Texas A&M University
  • Integrated Molecular Innovations, Michigan Technological University
  • Inzipio, RWTH Aachen University (Germany)
  • LoopX AI, University of Waterloo (Canada)
  • Magnify Biosciences, Carnegie Mellon University
  • MiraHeart, Johns Hopkins University
  • MyLÚA, Cornell University
  • Outmore Living, University of Texas
  • Pathways, Harvard University
  • Pediatrica Therapeutics, University of Arkansas
  • Perseus Materials, Stanford University
  • Pike Robotics, University of Texas
  • Quantanx, Arizona State University
  • Sheza, San Diego State University
  • Skali, Northwestern University
  • Sundial Solar Components, University of Utah
  • Thryft Ship, University of Georgia
  • Tierra Climate, Rice University
  • TrashTrap Sustainability Solutions, Visvesvaraya Technological University (India)
  • Unchained, North Carolina A&T State University
  • Unsmudgeable, Babson College
  • Vivicaly, University of Pennsylvania
  • Zaymo, Brigham Young University
The first seed will be planted in Jurata Thin Film, a revolutionary vaccine storage technology. Photo by dszc Getty Images

University of Texas launches $10 million seed fund with investment in vaccine storage pioneer

sprouting ideas

Planting a seed seems like a quaint activity, but the University of Texas at Austin doesn't do anything small. Its new $10 million UT seed fund is going into incubation soon, thanks to the efforts of Discovery to Impact, the team leading the University's "research commercialization and innovation efforts."

Except for its scale, this project is no different from any other seed investment, which inputs capital into a business in the form of a lump sum, in exchange for a portion of the business. In this case, the recipients are "promising new startups built on university-owned intellectual property," according to a press release. In total, UT Austin estimates that this intellectual property, or research enterprise, totals $800 million, a number it commits to "dramatically expand."

“By investing in these early-stage companies, we will be addressing a crucial gap in the capital market and enabling development of impactful technologies, while encouraging investors to consider opportunities coming out of the university,” said vice president of business strategies and operations Jim Davis in the release.

Discovery to Impact helps launch startups and stays on board through the many growing pains many startups experience, helping to accelerate "new products, services, solutions and cures." This means choosing and collaborating with three or four new companies each year, and when divided, the seed does appear rather small: companies can expect no more than a $250,000 investment.

The first seed will be planted in Jurata Thin Film, in order to grow solutions that streamline vaccine and biologic development and distribution worldwide. As many who followed COVID-19 vaccine news are aware, one major problem in distributing a vaccine is keeping it cold and stable. Jurata, based on the work of UT College of Pharmacy professor Maria Croyle, makes "thin films" (look up this keyword to see how unique Croyle's contribution is) that preserve vaccines for up to three years at room temperature. This is excellent news for communities with fewer resources or more arduous shipping needs.

The company is still relatively young, although not brand-new, having been founded in 2019. Its leadership has more experience; CEO Sheila Mikhail and co-founder Jude Samulski have previously collaborated on Asklepios BioPharmaceutical Inc. (AskBio) and Bamboo Therapeutics Inc.

The UT Seed Fund investment, along with other funding, will help bring about a pilot-scale manufacturing line that can create 1,000 doses of loaded thin films per hour, plus studies to ensure the safety of the formulation under the tongue, inside the cheek, and via intramuscular injection.

“Jurata is very excited to be the first recipient of UT Seed Fund,” said Jurata’s senior director of business development, Megan Livingston. “UT has been extremely supportive of our technology and development, and we look forward to continuing our relationship through this investment.”

A similar seed fund already exists at the University of Texas at Dallas, with larger sums for each business. More information about research at UT Austin is available at utexas.edu.

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This article originally ran on CultureMap.

A new program is launching to support the next generation of energy innovators. Photo via greentownlabs.com

Greentown Labs launches student-driven entrepreneurship program in Texas

back to school

The country's largest climatetech startup incubator and several schools are teaming up to prepare the next generation of clean energy innovators.

Greentown Labs, based in Boston and Houston, announced its new Texas Entrepreneurship Exchange for Energy (TEX-E) this week. The collaborative initiative aims to strengthen the student-driven entrepreneurship ecosystem in Houston, according to a news release, to focus on energy innovation. Greentown Labs, MIT’s Martin Trust Center for Entrepreneurship, and universities across Texas — including The founding institutions of TEX-E are Rice University, Texas A&M University, Prairie View A&M University, University of Houston, and The University of Texas at Austin — are collaborating on the project.

“Houston has long been known as the energy capital of the world, but to lead the world’s energy transition, the city must create a strong, vibrant innovation ecosystem to support the next generation of entrepreneurs and energy companies,” says Lara Cottingham, chief of staff at Greentown Labs, in the news release. “TEX-E will build upon Texas universities’ deep and long-standing connections to the energy industry by helping to attract and retain the world-class talent needed to supercharge Houston’s innovation ecosystem.”

The program, though based in Texas, will integrate both Greentown Labs locations, providing students with access to mentorship with incubator startups, networking events, career opportunities, and cross-learning with MIT.

“Boston and Houston might seem like an odd pairing, but they complement one another beautifully,” says Ben Soltoff, ecosystem builder and entrepreneur in residence at the Martin Trust Center for MIT Entrepreneurship, in the release. “The Boston area has a strong community-driven ecosystem around climate innovation, including MIT’s pioneering Climate and Energy Ventures Course in Cambridge, which has spawned over 30 companies. But often when MIT startups need to scale up, they look towards Texas, where they can find talent, space, and industry knowhow in spades.

"Together, these two regions are unstoppable,” he adds.

The five schools are just the beginning for the program, which plans to expand the collaboration over time. Locally, Houston area schools have collaborated with Greentown Houston since its opening over a year ago.

“The TEX-E collaboration will provide valuable opportunities to our students, and Houston is a natural location to create such an ecosystem,” says Ramanan Krishnamoorti, vice president for energy and innovation at the University of Houston, in the release. “Training new talent and supporting their pursuit of innovative ideas are vital in addressing the growing global need for affordable, reliable, and environmentally sustainable energy.”

For more information, students and educators should sign up for the TEX-E newsletter and attend an upcoming event at Greentown Houston. The next event at the incubator is the Climatetech Summit on November 2.

Matthew McConaughey invests in startups, including one based in Austin. University of Texas at Austin/Facebook

In his role as investor, Matthew McConaughey backs Texas startup

alright, alright, alright

Matthew McConaughey is far more than an Oscar-winning actor. He’s the “Minister of Culture” for the University of Texas. He’s a professor at UT and a best-selling author. And he’s co-owner of Austin FC, the Major League Soccer team.

But did you know the Austin celebrity also invests in startups?

McConaughey owns a stake in several businesses, and it turns out one of them is based in Austin. In an email interview with Fast Company magazine, McConaughey revealed he’s an investor in Workrise, an Austin company whose workforce management platform matches skilled workers with employers in the energy industry.

As an investor, McConaughey says he looks for companies “that have a purpose to uplift, empower, construct, redefine, and bring a new or renewed health to individuals, communities, and systems.”

Formerly known as RigUp, Workrise rebranded in early 2021. Since its founding eight years ago, the company has raised $752.5 million from major investors such as 137 Ventures, Andreessen Horowitz, Baillie Gifford, Bedrock Capital, Brookfield Growth Partners, Founders Fund, Franklin Templeton, and Moore Strategic Ventures.

“We founded RigUp in 2014 on the premise that technology could be used to more efficiently and effectively source skilled labor across the oil and gas industry. In the years that ensued, we found that our approach could be taken further; we could help address a much larger socioeconomic shift across the infrastructure industry,” co-founder and CEO Xuan Yong said last year.

“Today, Workrise reflects our aim to bridge the skilled labor gap across industries, to leverage technology and data to empower skilled workers — and, in turn, the economy at large — so the U.S. can prepare for an infrastructure renaissance,” he added.

A little over a year after its rebranding, Workrise laid off an undisclosed number of employees and streamlined its business offerings. Before the layoffs, the company was valued at $2.9 billion.

“Filling the skilled labor gap will be essential to our continued economic growth and recovery, and Workrise is at the forefront of that effort,” Allen Narcisse, chief operating officer at Workrise, said last year. “Workrise has already proven that traditional ways of staffing large projects are ripe for disruption.”

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This article originally ran on CultureMap.

Houston businessman Tony Chase has gifted $1M to UT in honor of his father, architect John S. Chase. Photo courtesy of Tony Chase

Successful Houston businessman donates $1M to UT in honor of his father — Texas' first Black architect

doing dad proud

Houston entrepreneur and law professor Tony Chase is no stranger to philanthropy. The founder and CEO of ChaseSource LP — a staffing, facilities management, and construction firm — has long been a generous contributor to myriad city causes. But his newest gift is decidedly personal.

Chase and his wife, Dr. Dina Alsowayel, have donated $1 million to the University of Texas at Austin’s School of Architecture in honor of his late father, John S. Chase, FAIA (M. Arch ’52). Notably, John Chase is the first Black graduate of UT’s school of architecture and the first Black licensed architect in the state.

This new gift from Tony Chase will create two new permanent endowments. The John S. Chase Family Endowed Graduate Fellowship will be used primarily to recruit graduates of historically Black colleges and universities (HBCUs) to the school and increase representation in the profession. Meanwhile, the John S. Chase Family Endowed Professorship in Architecture is meant to help recruit and retain outstanding faculty members and support their study of the built environment, according to the university.

John Chase enrolled at UT in 1950 as one of the school’s earliest Black students. He moved his family to Houston in the 1950s and eventually started his own firm — namely because no white architects would hire him. Undeterred, John Chase became the first Black licensed architect in Texas.

In 1952, he designed the headquarters for the Colored Teachers State Association of Texas, according to his bio. UT acquired the building in 2018, restored and converted it to an outreach center for the Division of Diversity and Community Engagement, and dedicated it as the John S. and Drucie R. Chase Building last fall.

He would go on to design numerous churches, private homes, eventually — and perhaps his crowning achievement — the Texas Southern University campus.

A dedicated business and community leader, Chase was also a passionate volunteer at UT; he served as a member of UT’s Development Board and Commission of 125, and was the first Black president of the Texas Exes. Chase received Texas Exes’ Distinguished Alumni Award in 1990.

“Throughout his life and as reflected in his built works, John Chase was a connector and a community-builder,” said Michelle Addington, dean of the School of Architecture, in a statement. “Not only did Chase design spaces that brought people together, but he used his pioneering position to create opportunities for others. We are extremely grateful for Tony’s incredible gift and honored to continue John Chase’s legacy of creating opportunities for a whole new generation.”

In 2019, UT’s school of architecture hosted “Chasing Perfection: The Legacy of Architect John S. Chase,” an exhibition curated by the Houston Public Library, and an accompanying panel discussion. In 2020, Professor David Heymann co-authored “John S. Chase—The Chase Residence” with Houston architecture critic Stephen Fox, which explores the significance of the home Chase designed and built for his family in Houston, both as a work of modernist residential architecture and as a setting for many important social, cultural and political events, according to a press release. The first biography of John Chase is set to publish next year, penned by assistant professor Tara Dudley.

Following in his father’s footsteps, the prolific businessman and professor Tony Chase is eager to give back with this gift, noting in a statement, “My father always said, ‘A life is not important except in the impact it has on other lives.”


John S. Chase stands in front of his family home in Houston with two of his three children, Anthony (left) and John Jr. (right). Photo courtesy the John and Drucie Chase Collection

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This article originally ran on CultureMap.

A Houston-based biotech startup has fresh funds to continue R&D on its products. Photo via Getty Images

Houston biotech company raises $15M round led by Chinese health care investor

fresh funds

A Houston-based biotech company that was founded by a University of Texas MD Anderson Cancer Center doctor has closed a fresh round of funding.

Cellenkos closed its $15 million series A round led by BVCF Management, based in Shanghai, China. The biotech company is developing novel T regulatory (Treg) cell therapies to treat autoimmune and inflammatory disorders. Dr. Simrit Parmar of the University of Texas MD Anderson Cancer Center and Golden Meditech Holdings Limited founded the company.

Dr. Parmar's specialty is in Lymphoma Myeloma and experimental therapeutics. According to a news release, she is also the principal investigator of a research laboratory focused on umbilical cord blood-derived Treg cells including their isolation and ex-vivo expansion for generating clinically relevant doses for their application in autoimmune diseases and inflammatory disorders.

"We feel fortunate to welcome BVCF as a new investor. As I look ahead, we are committed to bringing our novel Treg cell therapies to patients in need around the world," says Dr. Parmar in a news release.

BVCF is a health care investment firm focused on growth-stage healthcare companies from around the world. The portfolio has a particular focus on innovative solutions that address unmet health needs in China.

"Cellenkos' innovative and transformative Treg cell therapy platform to address autoimmune and inflammatory disorders has the potential to significantly serve unmet patient needs. We are proud to lead the financing and support their groundbreaking efforts," says Dr. Zhi Yang, managing partner at BVCF, in the release.

The company has plans to launch a phase 1b trial of add on therapy with one of its products for the treatment of myelofibrosis patients. The fresh funds will allow the company to continue to scale and test its life-saving technology.

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This is how much money you need to live comfortably in Houston, new study finds

money wise

Inflation is high, interest rates are skyrocketing, and honestly, just existing is expensive. Whether it be the price of eggs or a new car, trying to have a financially stable life in one of America’s largest metropolitan areas is becoming more and more difficult.

So, how much money do you need to make to live comfortably in the greater Houston area? Approximately $62,260 a year post-tax, according to a new study by financial tech company SmartAsset.

That’s over an $11,000-plus increase from their previous annual report, where Houston residents only needed to make $51,148 a year post-tax to live comfortably in the area.

Their experts collected data from MIT’s Living Wage Calculator to determine the cost of living for a childless individual in the 25 largest American metro areas. They also used the 50/30/20 budgeting strategy to figure out what a “comfortable lifestyle” meant for the purpose of their study: 50 percent of their income goes to a person’s needs/living expenses, 30 percent to a person’s wants, and 20 percent for their savings or paying down debt.

To live a financially stable life, a childless Houstonian would need to spend $31,130 of their salary on their living expenses, $18,678 for discretionary expenses, and put $12,452 toward their savings or debt payments.

Susannah Snider, SmartAsset’s managing editor of financial education, says in the study that budgeting should be the “bedrock of many people’s financial plans.”

“And it’s especially essential to understand and track your spending when the cost of everyday items is rising,” said Snider. “Being able to stick to a 50/30/20 budget means you have enough to fund short- and long-term goals while paying for essential living expenses.”

To live comfortably in the largest metro areas in the United States, on average, an individual would need to make $68,499 a year after taxes, which is a 20 percent increase from 2022. And, according to the report, salaries aren't rising like inflation.

"While salaries increased 5.1 percent between December 2021 and December 2022, wage growth couldn’t keep up with inflation, which averaged 8 percent in 2022," per SmartAsset.

In other Texas metro areas, like Dallas and San Antonio, a person would need to make $64,742 and $59,270, respectively, a year post-tax.

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This article originally ran on CultureMap.

Spring cohort announced for Houston tech company's startup accelerator

ready to grow

A Houston tech company has announced the latest cohort of its accelerator program, bringing the total number of startups supported by the company to 63.

Softeq Development Corp., a technology services development company, named 14 new startups joining its three-month spring Softeq Venture Studio cohort.

“We are so proud of the success we have had with the Softeq Venture Studio, helping to support and secure funding for 63 startups to date through the Softeq Venture Fund," says Christopher A. Howard, founder and CEO of Softeq. "With 23 of 89 founders coming from outside of the U.S., we demonstrate Houston’s growing influence as a startup hub where entrepreneurs can find a welcoming innovation community, a strong talent base, and world-class research facilities."

The spring 2023 cohort for Softeq includes:

  • Houston-based AIM7, data intelligence platform that unlocks wearable and mHealth data to provide customized and predictive wellness solutions.
  • Avendly, based in Providence, Rhode Island, makes robotic automation for restaurants to help, not supplant humans. Its first of many products is Mixibot, an integrated back-bar cocktail vending system.
  • Founded in Austin, ClioVis, is meeting today’s content-creator students where they are and how they learn. The company provides unique experiential learning tools designed for today’s content-creator students who learn by doing, not lectures.
  • Based in Tel Aviv, Israel, Flometrica, is a digital health solution featuring "use anywhere" devices to remotely monitor and diagnose various urinary tract problems through analysis of different urine parameters.
  • Gophr, from Lake Charles, Louisiana, is a technology-driven logistics company that provides tailored and efficient delivery solutions for various industries, individuals, and businesses of all sizes.
  • Chicago-based KarChing puts cash in teens’ hands for safe driving. The only app built for parents, teens, and insurance companies that rewards drivers for phone- and distraction-free behavior behind the wheel.
  • Houston-founded Meander collects travel customer satisfaction micro-surveys as people go about their trips. The research platform rewards travelers for sharing their pics, videos, and insights.
  • MEedia, based in Sacramento, California, puts a professional press conference event in your pocket. Individuals can create broadcast-worthy interactive shareable content with just their phone.
  • MeterLeader, from Huntington Beach, California, gamifies saving energy in homes by using real-time utility data and behavioral science. We're like a Fitbit challenge for your home, but instead of steps we measure kWh, therm, and CO2 reductions.
  • Houston-based PayOnDelivery, integrates secure payment with delivery for markets like Craigslist and Facebook. It’s low-hassle, fraud-free buying and selling for peer-to-peer marketplaces.
  • Another Lake Charles business, Picasso Analytics has a platform that can reduce delays and save oil refiners and petrochem owners 10 to 15 percent on multi-million dollar turnaround events by providing a single source of truth integrating the schedule, time entry, and shop status.
  • Sarasota, Florida-based Toivoa develops software-based therapies for people with disabilities who experience mental health disorders. On track for FDA approval, the platform is prescription-based, clinically validated, and delivered on your phone.
  • UpBrainery Technologies, founded in Houston, helps students explore careers through digital experiences. AI guides their interests in career paths and credentials their achievements for employers and colleges.
  • Also from Houston, WellWorth (https://wellworthapp.com/), is a financial modeling SaaS platform that helps upstream oil and gas finance leaders improve their decision-making around raising, managing, and deploying capital.

Softeq Venture Studio launched over a year ago with its inaugural cohort in 2021, and the fund was launched last year. Since launch, Softeq has raised 80 percent of its inaugural $40 million Softeq Venture Fund and made investments in 63 startups. Softeq has also reformatted its accelerator program to include two cohort classes per year, allowing for more time to be spent with the Venture Studio and its cohort startups.

Houston college receives grant to support aerospace technician training

workforce funding

The Texas Workforce Commission granted $332,000 to three Houston-area organizations last month to support aerospace technician training for unemployed and displaced workers, as well as recent high school grads.

The funding will go toward BayTech, Bay Area Houston Economic Partnership and San Jacinto College, and comes out of the TWC's Texas Talent Connection grant. The TWC awarded a similar grant to Lone Star College in January with the goal of supporting "innovative education and workforce skills training programs" for first-generation students in six different industries.

This most recent grant will allow about 50 students to become certified aerospace technicians in electrical, composite, or structural tracts.

After advancing through the program, they'll receive a completion certificate from the San Jacinto College's EDGE Center and will have the opportunity to sit for a nationally recognized certification exam.

According to a release from San Jacinto College, the organizations will also facilitate students' placement directly into the workforce.

"Funding like this grant from the Texas Workforce Commission to further our training offerings reaches far beyond our students to the future of the aerospace industry, Brenda Hellyer, chancellor of San Jacinto College, said in a statement. "A skilled workforce is critical to the success of the Houston Spaceport and the aerospace industries that support it, and we understand our role in providing the next generation of aerospace technicians."

San Jacinto College, which is the official education training partner for the Houston Spaceport at Ellington Airport, launched the EDGE Center in 2020.

The center aims to train future aerospace professionals through its technician programs as well as a general aerospace program and a drone pilot program. To date, about 30 students have earned their credentials .

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